Monthly Archives: September 2016

NJ Market Continues to Lag

From the Record: Region’s home price increase is weakest in U.S. Home prices in the New York metropolitan area inched up in July, but the increase was the weakest in the nation, the S&P CoreLogic Case-Shiller Indices reported today. Nationally, … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 69 Comments

Clever ruse to build two homes on one lot?

From the Star Ledger: Owners want ‘Watcher’ house razed; lawyer says stalker ‘can see it come down’ Owners of “The Watcher” house, who bought the $1.3 million dwelling but never moved in because of threatening letters from a stalker, now … Continue reading

Posted in Humor, New Jersey Real Estate | 113 Comments

We have no idea where people are going.

From Zillow: The Elusive Truth on Domestic Migration: Comparing Data Sources on U.S. Cross-County Migration Mark Twain is famous for saying that a man with one watch always knows what time it is while a man with two never does. … Continue reading

Posted in Demographics, Economics, National Real Estate | 9 Comments

Renters making headway? Nah.

From Real Estate Weekly: Study: NYC renter income growing faster than rental rates While the rent may too damn high, it seems renters in New York City have grown more resilient. According to the US Census Bureau’s latest American Community … Continue reading

Posted in Economics, NYC | 77 Comments

Welcome back old friend!

From the WSJ, Hat Tip Moose: Freddie Mac Starts Pilot Program With Looser Standards Mortgage-finance giant Freddie Mac and two nonbank lenders are loosening income and documentation requirements for mortgage applicants in a new pilot program. The changes announced Monday … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 115 Comments

Christie the problem? Or all the governors before him?

From the Star Ledger: Chris Christie’s state is an economic cripple Newly-released 2015 Census data only further confirms the depth of New Jersey’s economic funk. The state’s recovery is really struggling, people. Compared to other states, including our neighbors, we’ve … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 107 Comments

Feeling wealthy?

From Dow Jones: Home Prices Help Lift U.S. Household Wealth to Record The net worth of U.S. households set a record of $89.1 trillion in the second quarter, driven by a buoyant stock market and a steady resurgence of home … Continue reading

Posted in Economics, National Real Estate | 48 Comments

NJ economy “in deep trouble”

From the Record: Census shows no big payday for N.J. Years of economic malaise showed broad signs of lifting in 2015 across the United States as higher incomes and other beacons of rising prosperity helped reverse nearly a decade of … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 132 Comments

Another new low for foreclosures

From National Mortgage News: Foreclosure Inventory at Lowest Level in Nine Years The foreclosure inventory rate in July reached the lowest level recorded for any month since August 2007, according to data released by CoreLogic. The national foreclosure inventory in … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 37 Comments

What did they really expect?

From HousingWire: “Pervasive culture of waste and abuse” discovered in Nevada Hardest Hit Fund program Thanks to what investigators are calling a “pervasive culture of waste and abuse,” millions of dollars from the federal government that were supposed to help … Continue reading

Posted in Humor | 30 Comments

Looks like PA’s tax benefit is dead (good riddance)

From NJ Biz: Editorial: Christie makes right call to nix Pa. tax deal Gov. Chris Christie last week signaled he will end the income tax reciprocal agreement that New Jersey has shared with Pennsylvania for nearly 40 years. To quickly … Continue reading

Posted in Politics, South Jersey Real Estate | 53 Comments

Brigadoon!

From the NY Times: Westfield, N.J., Where Small Town Meets Urban Marci Bandelli thought she would never leave Brooklyn. Her husband, Stanford, who was born there, felt the same way. By 2001, with the addition of two children, the couple … Continue reading

Posted in New Jersey Real Estate | 34 Comments

Rising? Stalling? Falling? Yeah, all three.

From HousingWire: CoreLogic: Home prices still up, but leveling off Home prices increased in July year-over-year and month-over-month, according to the Home Price Index and HPI Forecast released by CoreLogic, a property information, analytics and data-enabled solutions provider. Home prices … Continue reading

Posted in Economics, National Real Estate | 76 Comments

Purchase Mortgages highest since 2007, Credit still tight

From HousingWire: Black Knight: Mortgage originations surge to highest level in three years The purchase market is booming, fueling the overall mortgage market and helping set the highest first-lien mortgage originations volume in a single quarter since the second quarter … Continue reading

Posted in National Real Estate, Risky Lending | 52 Comments

Why are prices going up?

From National Mortgage News: Home Prices and Homeownership Rates Are Out of Whack Before the financial crisis, home prices and homeownership rates moved roughly in tandem. Expanded access to credit and a booming real estate market made homeownership easier for … Continue reading

Posted in Demographics, Economics, National Real Estate | 45 Comments